What are the primary General Fund revenue sources?

The majority of services under the General Fund are paid for by sales and use tax revenues (4th and 5th cent) and direct distributions of state shared funding. These revenue sources account for about 50% of General Fund revenue.  Other significant revenue sources include auto and property tax revenue, miscellaneous tax revenue (severance, gas and fuels, and cigarette), mineral royalties, and other inter-governmental revenue, such as grants. The City of Laramie controls very few of its revenue sources. These include charges for services, licenses and permits, franchise fees, and some miscellaneous sources. Combined, these sources account for less than 15% of the City’s revenues. Since the City has so little control over revenue, a conservative approach is taken during budget planning which includes adopting a biennium budget. Biennium planning provides the City with forecasts necessary to take any action required, should revenue estimates not meet expectations.

Show All Answers

1. What is the General Fund?
2. What are the primary General Fund revenue sources?
3. What is the 4th Cent Sales & Use Tax and how is it allocated?
4. What is the 5th Cent Sales & Use Tax (local option) and how is it allocated?
5. We have a 6th cent specific purpose tax (1% SPT local option) in Albany County. Why don’t I see it in General Fund revenue sources? How is this tax being managed?
6. How much debt can the City carry?
7. What are the current types of general fund debt and the terms associated with the debt?
8. What is an Enterprise Fund?
9. What types of enterprise fund debt are held by the City and what are the terms associated with that debt?
10. What determines how much the City can spend?
11. What is the City’s Bond Rating?
12. What is Depreciation? How does the City manage it?
13. What are Fund Balance and Net Position?
14. What do the different components of fund balance mean?
15. What is a Modified Balance Sheet?
16. What are the Days of Operation Reserves?
17. What are the Recreation Center’s primary revenue sources?
18. What is the percent of Cost Recovery for the Recreation Center?
19. What is the Enterprise Fund Shared Services Transfer?
20. How does the City plan its budget for Enterprise Funds?
21. Are the revenues in the Enterprise fund only user fees?
22. How does the Financial Outlook Report differ from the Comprehensive Annual Financial Report (CAFR)?